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A shared payments infrastructure initiated by the state and joined by major Indian banks, the United Payments Interface (UPI) accounted for over 2.2 billion transactions in November.
Goldman Sachs predicts China’s digital yuan will attract 1 billion users within a decade, helping China’s commercial banks compete with fintech companies.
European Central Bank President Christine Lagarde said a digital euro can place the region at the cutting edge of innovation but it may have fallen behind in the global competition for creating digital payment ecosystems.